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Weak orders for durable goods and a soft advance in new home sales have contributed to a lackluster performance in equity markets today. While a boost to consumer sentiment was able to help stocks recovery from a disappointing open, the gains were temporary.

As of 1:00pm, all three indexes appeared to be ending the week on a low note. The NASDAQ is down 0.94% to 2,087, followed by a 0.82% decline in the S&P 500 to 1,042 and a 0.58% slide in the Dow to 9,652....(read more)
All three equity indexes have extended yesterday’s late day weakness into today. After a modest open, the S&P is trading near the lows of the day, down 1.18% to 1048 after a worse-than-anticipated housing report. As of 1:45 pm, shares in the NASDAQ are worse off with a 1.47% slide to 2,100, while the Dow has lost 64 points, or 0.66%, to 9,684....(read more)
The National Association of Realtors said sales of existing homes fell 2.7% in August, pushing the annual rate to 5.10 million units from 5.24 million in July.

Compared to 12 months ago that pace is up 3.4%, but analysts were expecting a 2.1% boost this month due to low mortgage rates and the soon-expiring tax credit for first-time homeowners.

The monthly slide in the index, which tracks sales of single-family homes, town homes, condominiums and co-ops, follows four months of gains that saw a cumulative 15.2% gain in sales....(
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Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects credit card interest rates.
When Federal Reserve chairman Ben Bernanke called the recession “very likely over” last week, there was some talk about whether his colleagues on the Federal Open Market Committee agreed. In the policy statement issued Wednesday afternoon, it looks clear that they do.

“Economic activity has picked up following its severe downturn,” reads the Fed’s statement in the first paragraph. The FOMC agreed to keep short-term interest rates at exceptionally low levels “for an extended period,” and none of the 10 voters dissented from the expectation that “inflation will remain subdued for some
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time.”...(read more)
The US dollar continues to weaken after a pause on Monday, boosting appetite for dollar-denominated commodities and pushing share prices up. Crude oil halted a three-day decline and gained $1.34 to $71.05, with gold and silver following suit.

Approaching Noon in Tuesday’s session, all three major indexes are climbing enough to reverse any declines from Monday’s directionless session. The S&P 500 has risen 0.57% to 1,070.61, putting the benchmark index less than 2 points from the 11-month high hit last week. The Nasdaq is up 0.33% to 2,145 and the Dow is up 0.36% to 9,814....(
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Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects auto loan rates.
Following a downturn in equity markets across the globe, US stocks opened sharply lower on Monday morning. A fifth straight advance in the Leading Economic Indicators had little impact on markets, who are anxious one day before the Federal Reserve holds its two-day monetary policy meeting.

As of 11:00, the S&P 500 is beginning the week down 0.70% to 1061, while the Dow is trading 0.69% lower at 9,752, and the Nasdaq is 0.23% lower at 2,128.

Crude prices slid more than two dollars to below $70 a barrel in New York, while the dollar continued rebound against the major c
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urrencies....(read more)
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects home equity loans and lines of credit.
Officials from four federal departments and agencies and attorneys general of 12 states met in Washington on Thursday to discuss what was termed an "epidemic" of fraudulent schemes designed to scam distressed homeowners....(read more)
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